Phan Dang Nhat Minh, the winner of the 17th competition “Duong len dinh Olympia” (Road to Olympia) is the longest running game show on Vietnam National Television. This is a competition held annually for high school students and the award for the winners of the competition is the full scholarship for studying at university in Australia. “Road to Olympia’ has many other unofficial names – ‘Duong len dinh Australia’ (Road to Australia), or ‘Noi tuyen chon nhan tai cho Australia’ (Competition that selects talents for Australia). This is because most of the winners, the best students, now live and work and Australia. On an education forum, people wrote sarcastic remarks, saying that ‘Road to Olympia’ needs to be removed, because it provides Vietnamese talents to Australia, and causes a brain drain in Vietnam. The first champion of the Road to Olympia Tran Ngoc Minh, graduated from Swinburne University of … [Read more...] about Does Vietnam’s TV show “Road to Olympia” help provide talents for Australia?
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RoK airline to launch route to Nha Trang in December An aircraft of Air Seoul (Photo: Yonhap news agency) Air Seoul is wholly owned by the Republic of Korea (RoK)’s Asiana Airlines Inc. Starting December 18, Air Seoul plans to offer seven flights a week to Nha Trang as it strives to strengthen services on routes to Southeast Asia to offset declining demand on Japanese routes, the company said in a statement. Since early July, RoK airlines have halted or reduced services on their Japanese routes, while expanding flights on non-Japanese ones after the neighbouring country implemented export restrictions of key materials to the RoK./. Banks forecast strong performance despite credit slowdown Most domestic credit institutions and foreign banks’ branches in Vietnam expect their business performance in 2019 to be better than last year despite the predicted slowdown in credit growth, according to the State Bank of Vietnam's latest survey released late last week. In the … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 15
Illustration photo It will continue to invest in and expand 4G and 5G coverage with the connection speed of 1.5 Gbps by 2025 (hundreds of times higher than the current speed of 4G), said General Director of Viettel Telecom Cao Anh Son on the 15th anniversary of mobile business (October 14, 2004). Mr. Son said that over the past 15 years, Viettel has generated telecom and IT boom, serving to raise mobile coverage rate from 5% in 2004 to 100% by 2009. Viettel also contributed to universalizing mobile services, supporting people, even those in far-reaching and border areas, to use mobile phones. So far, the operator owns nearly 150,000 telecom stations, accounting for about 50% of total number of this kind in Viet Nam. Viettel took the lead in deploying new service. With 5G coverage in HCMC, Viet Nam was one of a few countries successfully piloting the service. In the coming time, Viettel Telecom targets to become No. 1 telco; provide smart phone and IoT … [Read more...] about VN to finalize 5G coverage nationwide by 2025
Rice export volume up but value falls The ministry said the total rice export volume and value in the first nine months of this year reached 5.2 million tonnes and $2.24 billion, respectively. The figures represented a rise of 5.9 per cent in volume and a drop of 9.8 per cent in value compared to the same period in 2018. Of which, Viet Nam shipped abroad 586,000 tonnes of rice in September for $251 million. The Philippines was the top market for Vietnamese rice in the first eight months of this year, consuming 1.76 million tonnes worth $720 million, 2.9 times higher in volume and 2.6 times in value over the same period last year. Strong growth was also seen in other markets, including Australia (75 per cent), Ivory Coast (nearly 35 per cent) and Hong Kong (nearly 35 per cent). The average rice price in the first eight months fell 13.8 per cent year on year to $435 per tonne. White rice led the way in the period, accounting for 47 per cent of total revenue, followed by Jasmine rice … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 14
From October 1 lenders including banks will not be allowed to provide medium- and long-term foreign currency loans to businesses to pay for imports. — Photo cafef.vn Thiên Lý From October 1 lenders including banks will not be allowed to provide medium- and long-term foreign currency loans to businesses to pay for imports. Many market observers said this is the State Bank of Việt Nam’s final step in its fight against dollarisation. Experts said the anti-dollarisation campaign has been on the right track. The level of dollarisation in the economy has been steadily declining in recent years. According to the National Finance Supervision Council, as of the end of May last year outstanding loans in the đồng amounted to 91.9 per cent of the total. The financial statements of some banks show the ratio of their foreign currency deposits to total deposits dropped sharply in the first half of this year. For the three large State-owned banks, … [Read more...] about Việt Nam enters home stretch in fight against dollarisation